Repro Med Systems, Inc. (REPR) swung to a net loss for the quarter ended Nov. 30, 2016. The company has made a net loss of $0.10 million in the quarter, against a net profit of $0.17 million in the last year period. On an adjusted basis, net profit for the quarter was $0.28 million, when compared with $0.35 million in the last year period. Revenue during the quarter went up marginally by 1.53 percent to $3.19 million from $3.14 million in the previous year period. Gross margin for the quarter contracted 243 basis points over the previous year period to 64.64 percent. Operating margin for the quarter stood at negative 3.52 percent as compared to a positive 9.23 percent for the previous year period.
Operating loss for the quarter was $0.11 million, compared with an operating income of $0.29 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.51 million compared with $0.60 million in the prior year period. At the same time, adjusted EBITDA margin contracted 324 basis points in the quarter to 15.95 percent from 19.19 percent in the last year period.
Andy Sealfon, RMS CEO and President commented, "We are pleased to see some of our efforts internationally starting to come through with orders." Addressing the FDA Warning Letter, Mr. Sealfon noted: “We continue to work closely with the FDA in order to resolve the FDA Warning Letter. We have been and will continue to be proactive in working with the agency in order to resolve all issues that have been or may be raised by the agency as soon as possible."
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